en.Wedoany.com Reported - Masan High-Tech Materials has announced plans to expand its Nui Phao mine and Nui Chiem site in Vietnam, potentially introducing 115 million tons of tungsten polymetallic resources. This move aims to attract foreign investment and strengthen the company's position in the global critical minerals sector.

In a statement released via email, Masan High-Tech Materials Chairman Danny Le stated that the expansion could extend mining and processing activities by 20 to 30 years, solidifying the company's strategic position amid declining non-Chinese tungsten supply. Le added that the expansion aligns with the Vietnamese government's approach to developing the mining industry in a modern and sustainable direction, linking resource extraction with deep processing and higher domestic added value.

Parent company Masan Group is exploring the sale of up to a 5% stake in its mining division to international investors. The Nui Phao project, covering 921 hectares, is reportedly one of the largest tungsten sources outside of China. Tungsten is critical for various applications, including electronics and defense, and its price has recently surged, driven by increased global defense spending.

Masan High-Tech Materials is currently negotiating a potential stake sale with investors from Japan, Australia, Europe, and the United States. Meanwhile, the company is preparing to transfer its listing from Vietnam's Unlisted Public Company Market to the Ho Chi Minh City Stock Exchange, potentially completing the move in the first quarter of 2027. According to data from the US Geological Survey, Vietnam was ranked as the world's second-largest tungsten producer last year, trailing only China, with an estimated output of 3,000 tons.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com